According to Zacks, “Turning Point Brands, Inc. provides tobacco products. The Company’s product consists of moist snuff, loose leaf chewing tobacco, cigarette papers, make-your-own cigar wraps and cigar smoking tobacco, cigars and liquid and tobacco vapour. Its portfolio of brands includes Zig-Zag(R), Beech-Nut(R) and Stoker’s(R). Turning Point Brands, Inc. is based in Louisville, Kentucky. “
A number of other equities analysts also recently weighed in on the stock. B. Riley lifted their target price on shares of Turning Point Brands from $59.00 to $63.00 and gave the stock a buy rating in a research note on Thursday, February 11th. Cowen lifted their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, February 11th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $55.40.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Monday, April 26th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.16. The firm had revenue of $107.60 million during the quarter, compared to the consensus estimate of $100.14 million. Turning Point Brands had a net margin of 2.11% and a return on equity of 42.60%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. As a group, sell-side analysts forecast that Turning Point Brands will post 2.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 9th. Shareholders of record on Friday, March 19th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.46%. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, March 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.83%.
A number of large investors have recently bought and sold shares of TPB. Cutler Group LP grew its holdings in Turning Point Brands by 328.6% in the fourth quarter. Cutler Group LP now owns 3,000 shares of the company’s stock worth $133,000 after purchasing an additional 2,300 shares during the period. Strs Ohio acquired a new stake in Turning Point Brands in the fourth quarter worth $294,000. Toth Financial Advisory Corp grew its holdings in Turning Point Brands by 19.1% in the fourth quarter. Toth Financial Advisory Corp now owns 11,615 shares of the company’s stock worth $518,000 after purchasing an additional 1,865 shares during the period. Victory Capital Management Inc. acquired a new stake in Turning Point Brands in the fourth quarter worth $266,000. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in Turning Point Brands in the fourth quarter worth $1,043,000. Institutional investors and hedge funds own 86.06% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.
See Also: Range Trading
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter.